In a move to empower regional small and medium enterprises (SMEs), Equity Bank Uganda has unveiled the Tupange Business Ne Equity initiative. This comprehensive program aims to address the unique challenges faced by SMEs, providing crucial support in credit, innovation, and market access.
Following the national budget reading for the financial year 2024/2025, the Bank has taken a proactive approach to translate the budget into actionable opportunities for SMEs. With a series of stakeholder engagements across the country, Equity Bank is mentoring and training SME business owners in effective financial management, innovation, and export business strategies.
Equity Bank Managing Director Anthony Kituuka emphasized the Bank’s commitment to guiding SMEs in financial management, record keeping, and providing free financial literacy education.
“We believe SMEs have the potential to expand their agricultural product exports to the East African Community and beyond,” Kituuka said.
The initiative has already reached over 600 SME proprietors, offering advisory services, improving financial knowledge, and providing networking platforms. The campaign aligns with Uganda’s growth strategy for the new financial year, focusing on commercial agriculture, industrialization, market access, and digital transformation.
This move is seen as a significant step in supporting critical sectors to fully recover post-COVID-19 crisis, through Equity Bank’s Africa Recovery and Resilience Plan.
The initiative has received praise from former Deputy Governor of Bank of Uganda, David Opio Okello, who noted that it reflects the growing influence of SMEs in government policies, promoting locally manufactured goods and skills.”
